Paducah Bank is proud to announce that we have received a financial strength rating of “A” from Weiss Ratings for the second quarter of 2014!* Weiss is a nationally recognized independent provider of financial strength ratings for banks, credit unions, insurance companies, and other financial entities. According to www.weissratings.com, The “A” rating is defined as “Excellent. The institution offers excellent financial security. It has maintained a conservative stance in its business operations and underwriting practices as evidenced by its strong equity base, top-notch asset quality, steady earnings, and high liquidity. While the financial position of any company is subject to change, we believe that this institution has the resources necessary to deal with severe economic conditions.”
To put this in perspective, Weiss analyzed over 6,500 banks during the second quarter. Of those, only 1,250 banks are rated B+ or better. That puts Paducah Bank in the top 19% of all banks analyzed in the country!
“It’s such a rewarding affirmation to receive a rating like this from a trusted, independent source,” said Mardie Herndon, Paducah Bank president. “We are very pleased to be able to share this information with the Paducah community. We have known all along that Paducah Bank is an exceptional financial institution. Now, our community doesn’t have to just take our word for it!”
Weiss Ratings evaluates and rates thousands of U.S. banks on a quarterly basis and accepts no payments for its ratings from rated institutions.
*Breaking News – January 2, 2015 – The 3rd quarter ratings have just been released and Paducah Bank maintains its “A” rating! That’s the highest rating of any financial institution in our area!*